Nancy Pelosi calls to ban Russia’s oil and gas exports, Biden put in pressure
“I’m all for that – ban it. Ban the oil coming from Russia.”
This was the statement of House Speaker Nancy Pelosi on Thursday at her weekly press briefing on Capitol Hill. Pelosi’s call to ban Russian oil imports, as a punishment to Russia’s attack on Ukraine, pressures President Biden to proceed and take action on the issue.
While cutting off Russian oil could spike up gas prices, White House press secretary Jen Psaki said that there was not yet a “strategic interest in reducing the global supply of energy and that would raise prices at the gas pump for the American people around the world because it would reduce the supply available.”
Russia, as the world’s largest oil exporter, exports about 5 million barrels of crude per day with 60% of it to Europe and 20% to China.
After imposing grave sanctions on Russian banks and oligarchs, the US and its western allies have been wounding Russia’s economy and hurting the country’s energy sector is a salt to the wound.
During his announcement of additional sanctions to Russia, Biden said that “the goal is to maximize the impact on Putin and Russia and minimize the harm and loss to our allies and friends around the world.”
After hearing comments from the parliament, Pelosi explained that people don’t have to pay for the price of gas and that her intent goes with “the consumer benefits, rather than more profits for the oil companies.”
